The formula which the SMHS MD Program Office of Financial Aid uses to award its limited institutional aid for 2023-2024 is described below. "Packaging" is the technique of identifying and assessing the components of an applicant's resources in order to determine, and then help meet, his/her calculated need.
| Base Budget | $ XXXXX 1 |
| Less: | |
| Student Contribution | - XXXX 2 |
| Parent Contribution | - XXXX 2 |
| Institutional and Outside Scholarship/Resources | - XXXX 3 |
| Federal Direct Unsubsidized Stafford Loan | -$ 20,500 4 |
| Equals Initial Unmet Need | = XXXX 5 |
| Less: | |
| Percentage of the Budget | - XXXX 6 |
| Equals: | |
|
GW Aid Eligibility |
=XXXXX 7 |
- All students are assessed with the appropriate year's base budget. This is the Cost of Attendance less outside resources (scholarships, tuition reimbursement programs, military tuition assistance, etc.).
- The calculated student's and parents' expected contribution are derived from information entered on the FAFSA, tax documents, and Need-Based Aid Application data.
- All institutional merit awards and outside scholarships and resources are considered.
- All GW aid applicants are expected to borrow at least $20,500 in Federal Direct Unsubsidized Loans to be eligible for institutional aid.
- Unmet need is derived by subtracting the resources from the budget figure.
- There is a portion of the budget that we cannot meet with our institutional funds. This amount is approved annually by the Financial Aid Advisory Committee.
- Eligibility is determined by the Initial Unmet Need less the calculated portion of the budget.
Please note that need-based awards are subject to priority deadlines:
Incoming students: March 1, 2023
Returning students: May 1, 2023
NOTE: Applications for institutional aid not completed by August 5, 2023, will be packaged with Federal Direct Loans only.